Back in late July, Renault driver Daniel Ricciardo was sued by his former advisor Glenn Beavis. Beavis sought a sum of £10 million as he alleged that he was not paid. Around the time he left Red Bull, he supposedly struck a 2-year deal with Renault and he owed Beavis ‘various sums’.
He demanded a debt of 20% commission on Ricciardo’s base Renault salary and other contractual elements. According to Beavis, he took on more tasks and was paid a retainer of £225,000 across 12 months. In addition to that he was owed a 20% commission on the value of all new deals.
Now, more details have emerged on the Daniel Ricciardo scenario and the lawsuit. First and foremost, if Daniel Ricciardo won a race, Renault promised that he would be able to keep the F1 car.
Secondly, the Australian was offered an “appearance fee” to star in Netflix’s Formula One: Drive to Survive series. Another perk heading his way was that he was in talks about becoming an ambassador for Huawei.
Ricciardo would also receive a fixed fee and cost of his documentation, both of which were undisclosed. In addition to that, the 30-year old would also be provided with a Renault road car, and insurance, road tax and maintenance would be covered by the team. Other expenditures included a physiotherapist and medical expenses.
Highlights of the Ricciardo court filings:
• Renault promised DR the #F1 car which wins his first race
• DR was offered an "appearance fee" to star in Drive to Survive on Netflix
• DR was in talks about becoming an ambassador for Huawei
• DR Renault contract benefits itemised pic.twitter.com/jyx6CbwlQ4
— Formula Money (@FormulaMoney) September 5, 2019
Daniel Ricciardo is also privy to a season end bonus based on his performance until the end of the championship season. He also gets a one-off bonus for winning his first race with the team during his tenure.
In December 2018, Beavis alleged that Daniel Ricciardo expressed his desire to terminate their agreement with immediate effect. However, the split did not materialise until the end of January 2019. This was because, Beavis requested time to complete the long-form of the Renault contracts.